Premier Ford’s Minister of Finance, Peter Bethlenfalvy, introduced the long awaited Ontario Budget at Queen’s Park today.

As I predicted last week, this Budget will increase spending in the government’s key priority areas to protect Ontario’s economy from the ongoing US tariff threats and global economic instability.

The government has announced significant new investments to create and maintain jobs in Ontario, while providing tax relief to employers and taxpayers to reduce the burden of the tariff impacts on the economy.

Key Budget Highlights

• $9 billion in deferred tax payments for businesses and employer rebates to maintain Ontario based jobs
• $5 billion for the new Protect Ontario Account to provide “immediate liquidity” relief to businesses impacted by tariffs
• $33 billion for major infrastructure projects including roads, public transit, hospitals, schools and child care centres
• $500 million to create a new Critical Minerals Processing Fund and accelerating permit approvals for mining projects
• $2 billion to attract more healthcare workers to Ontario and increase access to primary care

Risks of cuts to other programs to manage the budget

The Finance Minister made it clear that the government needs a robust economy to keep investing in the provincial services that people rely on such as healthcare, education and social services.

While the province did announce billions of dollars in funding to support new capital projects in healthcare and education, actual spending in both sectors is forecasted to slow down over time. The healthcare budget is forecasted to grow below the rate of inflation, while spending in education is holding at the same rate for the next two years.

As a result, difficult decisions will need to be made in healthcare, education and the social services sectors about how to maintain services for Ontarians, potentially without enough funding to support rising costs.

Ongoing negotiations with the new federal government

The 2025 provincial budget also called on the new federal government, under Prime Minister Carney, to partner with Ontario to address their shared priorities and support Ontario’s economy.

The federal Finance Minister, François-Philippe Champagne, confirmed yesterday that the Government of Canada will not release a Budget until Fall 2025. This puts the provinces and municipalities in a bit of a difficult position, as they are reliant on federal funding for essential services such as infrastructure, healthcare, housing and homelessness.

The Ford government will continue to advocate for federal funding to address these critical issues, as well as support for employers, workers, eliminating trade barriers and reducing government regulation to expedite mining permits in Ontario.